Clifford Chance and AZB end alliance in India
Clifford Chance and India's AZB & Partners has been brought to an end. The "best friends" referral agreement was commenced just two years ago, permitting Clifford Chance to get around the restriction on foreign firms operating in the country. It was expected that the Indian market would soon open to foreign law firms, at which point Clifford Chance would poised to undertake a full merger with AZB.
With prospects for liberalization dimming in the face of resistance from the Indian legal community, and a low rate of referrals between the two firms, the alliance has been brought to an end.
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